Important Updates
This announcement is a follow up on our previous published future plans for CAI. CAI as you all know is not just a cryptocurrency, when we set out on this project we were a bunch of pool owners tired of dealing with projects that never fulfill a purpose other than hitting an exchange, and most of the time our hard work as pool owners/miners/community is destroyed by the greed of one person who calls himself a developer.
We formed a team of active developers, to create a company not a coin, a company who's assets are CAI and and it's shares are mined/traded by the community. We also wanted to introduce the world to crypto by building a business outside of the client itself, a business that supports CAI by creating multiple revenue streams that will buy back into the shares of the company CAI on the open market. Today multiple coins are using the multipool concept to do this. CAI on the other hand will go beyond that by utilizing different avenues of creating funds to buy CAI on the open market.
Let's get to the most important part now, the changes. The recent market has shown a tendency by community/traders to embrace PoS as a market favorite. We will be implementing PoS in a client update (ETA to be announced after Easter). However with this comes a moral responsibility to people who already invested in CAI, as you all know we had a premine fund to support the continuous development of CAI. We have consulted with some important people in the cryptocurrency arena and we came with two solutions. Destroy part of the premine or hold it with a trusted third party never to be used but can count as an asset to the company funds. We are leaning more towards the first solution. CAI will have the smallest amount of coins produced per PoS when this transition comes, and will be a rare coin to own. More details on the transition will be released after Easter.
Now let's discuss our revenue streams for CAI. As you all know by now we already announced our APPS/Games development and the release has been approved by Google store, we are still waiting on Apple approval which is taking a bit longer because of the Easter holidays, hopefully we will have good news on that by Monday. The game will be released in open beta and changes to implement cryptocurrency purchases with our game server will be added in the final release.
We also have plans to use our app/game servers to launch a cryptocurrency payment processing branch for our company. We have spoken with Ahmed_Bodi to work with us on this project and he showed interest. We will be accepting altcoins that will have high volume on exchanges, however, a web store will only need to accept Bitcoin to use our system. When payment is made our server will process an alt transaction with a reputable exchange convert to btc and forward payment to shop in BTC minus fee. This will open a much bigger avenue for alts to be accepted by any merchant that accepts Bitcoin. Why is this better, our system will not add a heavy requirement on an alt developer to have a payment processor, transactions might take longer than other payment systems to finish, but also it will create a mainstream usability for alts.
There is also plans for a multipool, but also much different from a traditional multipool. This will not be announced now in details, we need to keep some cards hidden for future developments.
Happy Easter
Joseph Stuhlman
4/19/2014